Kathmandu. NIC Asia Bank has requested customers to update permanent account number (PAN) in their accounts.

As the details of tax deduction made from the bank’s customers’ accounts have to be linked to the permanent account number system issued by the Government of Nepal, Ministry of Finance, Department of Internal Revenue as per the ‘Income Tax Act 2058’, customers can update their PAN as soon as possible by tabing the bank’s portal panupdate.nicasiabank.com or ‘PAN Update’ option on the mobile banking app.

In addition, customers can apply for updating pan in their account from any branch office of this bank.

PAN is essential for the e-TDS record of the tax deducted from this bank on payment of interest to the depositors. Once the PAN is updated, their e-TDS details will be entered in the PAN, so the income tax system automatically adjusts the tax deduction details in Schedule 10.

The bank believes that this will make it easier for the customers to get tax deduction certificates and tax paid certificates and also end the situation of going to the bank to get the certificate. The bank also informs all the customers that the bank will not be responsible in case the interest tax is not paid in the e-TDS due to non-updating of the PAN and if the interest tax has to be further adjusted in that province.

Also, if the details of tax deduction are not included even after providing PAN to the bank earlier, it is requested to contact the phone numbers of the bank’s nearest branch office or customer contact center at 1660-01-77771, 01-5970101.